The plan that is agreed to by the local redevelopment authority for a closing or realigning installation, and that provides for the reuse or redevelopment of the real property and personal property of the installation that is available for such reuse and redevelopment as a result of the closure or realignment.
The redevelopment plan is a general roadmap for development over the 23-year life of the TIF, including: (1) redevelopment goals, (2) recommended land uses, and (3) a budget of estimated project costs. When we say a TIF district has been created, we mean that the redevelopment plan has been approved by the City Council.